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Dec 4, 2012
12/12
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. >> the white house rejects a republican counter plan to avoid that "fiscal cliff." >> rates have to rise and the republicans need to acknowledge that. that's the only way to get from here to there. >> from across the bay to around the world -- >> obviously, you know, we want a family, so, uhm, you know, we have to start thinking about that. >> -- the stories that matter on "eyewitness news this morning." >> your realtime captioner: linda marie macdonald captions by: caption colorado comments@captioncolorado.com >>> good morning, it's tuesday, december 4. i'm michelle griego. >> hi, everyone. i'm frank mallicoat. it is 6:32. a huge pot bust at a home in east san jose. this morning neighbors reported a burglary happening at a home on the 1300 block of sandalwood court. when police got there they found the front door open. they entered the home and discovered an elaborate grow house there. we have live pictures of the house here. in fact, officers say there was no furniture inside the home at all just about 300 pot plants with a street value of $125,000. and because of all the chemical
. >> the white house rejects a republican counter plan to avoid that "fiscal cliff." >> rates have to rise and the republicans need to acknowledge that. that's the only way to get from here to there. >> from across the bay to around the world -- >> obviously, you know, we want a family, so, uhm, you know, we have to start thinking about that. >> -- the stories that matter on "eyewitness news this morning." >> your realtime captioner: linda...
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Nov 12, 2012
11/12
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CNBC
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how are you invested right now amidst all of these issues pertaining to the fiscal cliff, higher tax rates in 2013, et cetera? >> always good to be back with you. we've been defensive. we've looked for opportunities to take gains over the course of the year. thankfully we've been very u.s.-centric in our investments over the course of 2011-2012. what we're preparing for now is looking again at the foreign markets in 2013. >> foreign markets meaning you want to be allocating money outside of the u.s. because of these issues in the u.s.? >> well, taking a look at some of the large global players here in the u.s. and outside, because as tax rates go up here in the united states, what we're about to see is probably the laugher curve in reverse. tax rates going up, revenues declining, creating a headwind for gdp. we're look at companies in the world for looking for global growth opportunity outside our borders. >> mark, let me get your standpoint on this. all year all we've been hearing about are dividend payers. why? because the yield -- there's no yield anywhere with rates where they ar
how are you invested right now amidst all of these issues pertaining to the fiscal cliff, higher tax rates in 2013, et cetera? >> always good to be back with you. we've been defensive. we've looked for opportunities to take gains over the course of the year. thankfully we've been very u.s.-centric in our investments over the course of 2011-2012. what we're preparing for now is looking again at the foreign markets in 2013. >> foreign markets meaning you want to be allocating money...
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Dec 20, 2012
12/12
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FOXNEWSW
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a survey showed a third of the public is so concerned about the fiscal cliff and what our tax rates will be we have cut back on spending altogether. and the estimate for holiday sales is revised from 3.3 percent to 2.5 percent because of the fiscal cliff and super storm sandy and deep discounts. those deep discounts can continue on saturday, super saturday, the biggest shopping days of the year, a couple daze before christmas this year, so if you go in the store and you are look if 70 percent off sale you will find it. i am not sure your item will be in stop but you will like the price tag. happy shopping if you are not done already. i am. i am wrapped and i have the bows. >>neil: i knew you would rub that in. but processed meats and cheeses are everyone's favorite gift. tomorrow is my crist shopping tips if everyone. many americans country on tax refunded to pay if the holiday shipping bills they are stacking up but what if the refunds are delayed, seriously delayed? this wanting from the i.r.s., and i quote, "most taxpayers may not be able to file 1212 taxpayer returns until late in ma
a survey showed a third of the public is so concerned about the fiscal cliff and what our tax rates will be we have cut back on spending altogether. and the estimate for holiday sales is revised from 3.3 percent to 2.5 percent because of the fiscal cliff and super storm sandy and deep discounts. those deep discounts can continue on saturday, super saturday, the biggest shopping days of the year, a couple daze before christmas this year, so if you go in the store and you are look if 70 percent...
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Dec 31, 2012
12/12
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WGN
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if you want to check out how much this fiscal cliff falloff will affect your next pay check, had to this web site. half a bill to legalize same sex marriage in illinois could come before state lawmakers in springfield as soon as this week. a white house spokesman tells the chicago sun-times, president obama is urging lawmakers to approve the "religious freedom and marriage fairness act". the spokesman says if the president were still in the legislature, he would support a measure to treat all couples equally. illinois passed a law approving civil unions for same sex couples in june of last year. if you're going out to celebrate tonight. the c-t-a is offering you a safe ride home for a penny. this year, the c-t-a is partnering with "miller lite" to provide rides on buses and trains for just one cent. penny fares begin at 10 p-m tonight. continuing through four a-m on new year's day. >> they are erupting with tons of exploding fireworks as they welcomed in the new year. it was the world's first major celebration for 2013. 7 t of fireworks were set off from rooftops and barges. many of them
if you want to check out how much this fiscal cliff falloff will affect your next pay check, had to this web site. half a bill to legalize same sex marriage in illinois could come before state lawmakers in springfield as soon as this week. a white house spokesman tells the chicago sun-times, president obama is urging lawmakers to approve the "religious freedom and marriage fairness act". the spokesman says if the president were still in the legislature, he would support a measure to...
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Dec 19, 2012
12/12
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. >>> president obama's approval rating reached 57% in a cbs poll focusing on the fiscal cliff talks. >>> former republican senator chuck hagel is a top candidate to become the new defense secretary in the second obama administration, but there's some opposition questioning hagel's support for israel. >>> and ben affleck is reportedly on the list of possible successors if senator john kerry is nominated as secretary of state. affleck will be in washington today testifying before the house armed services committee about the security situation in congo is that's your morning dish of scrambled politics. >>> the dow saw its first back-to-back triple digit gains in five months tuesday. that was amid optimism that a deal will be reached on the fiscal cliff. today investors will be watching for fresh housing data and earnings from economic and holiday bellwether fedex. >>> this morning, swiss banking giant ubs announced it will pay a record $1.5 billion fine over its role in a global interest rate fixing scheme. >>> in the wake of the newtown massacre, cerberus is selling its majority stake
. >>> president obama's approval rating reached 57% in a cbs poll focusing on the fiscal cliff talks. >>> former republican senator chuck hagel is a top candidate to become the new defense secretary in the second obama administration, but there's some opposition questioning hagel's support for israel. >>> and ben affleck is reportedly on the list of possible successors if senator john kerry is nominated as secretary of state. affleck will be in washington today...
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Dec 30, 2012
12/12
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what happens if we go over the fiscal cliff or get the type of deal the president is looking for? what we're talking about the top individual income-tax rate rising from 35% to 39.6%, the same tax rate we have before 2001. we do not need to be up at the 75% level. i would not advocate the go there but i think that is not really where we are and it is not where we need to be. host: we have a treat, who -- we have a tweet. they write -- host: the payroll tax is to% of income. -- guest: the payroll tax is 2% of income. the benefits of the payroll tax are larger or more important probably for low and middle income working families than they are for higher income families. that is certainly true. you have to remember that the payroll tax was a temporary provision. it actually was enacted at the end of 2010 to replace another temporary provision which was even more targeted toward low and middle income working families. i do not think anybody would dispute that at some point it needs to expire. the question is whether that time is now or whether it to go on a little bit longer. >> his r
what happens if we go over the fiscal cliff or get the type of deal the president is looking for? what we're talking about the top individual income-tax rate rising from 35% to 39.6%, the same tax rate we have before 2001. we do not need to be up at the 75% level. i would not advocate the go there but i think that is not really where we are and it is not where we need to be. host: we have a treat, who -- we have a tweet. they write -- host: the payroll tax is to% of income. -- guest: the...
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Dec 30, 2012
12/12
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at the top of the list, tax rates, if we go over the fiscal cliff, tax rates will go up 9-33% for most all americans. now, that would also mean havoc for payroll companies and the irs that have to struggle how to handle withholding starting on january 1st and unemployment benefits. those ran out today. so that is something that republicans and democrats we understand are talking about right now. so, what else is at stake in the fiscal cliff? let's look at the other issues, things that we are not sure will be in a deal that comes out this week. at the top of the list, government spending cuts that is 8-10% in cuts to every federal agency. and a pay cut for medicare doctors of 27% that would hit after january 1st and finally, don, there's a slew of other tax hikes. the minimum tax and the estate tax. that is everything that would hit average americans. the fiscal cliff, it may be bigger than people realize. don? >> lisa, thank you very much. a lot of us would like to tell lawmakers what we think of them. here is your chance right now, go to our ireport.com and start a message and we will
at the top of the list, tax rates, if we go over the fiscal cliff, tax rates will go up 9-33% for most all americans. now, that would also mean havoc for payroll companies and the irs that have to struggle how to handle withholding starting on january 1st and unemployment benefits. those ran out today. so that is something that republicans and democrats we understand are talking about right now. so, what else is at stake in the fiscal cliff? let's look at the other issues, things that we are...
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i outlined a responsible parent forward to avert the fiscal cliff without raising tax rates were serious about reducing with ups have to combine spending cuts with revenue. that sounds pretty opposed to good luck with that grand bargain guys so maybe we'll go off the cliff and what that really be so bad well you can decide mike maloney of gold silver is here to weigh in and cvo was out with a view of what a plunge would mean as far as a recession and unemployment goes and it's not about what the demographic that wakes up and says this is going to. holy demographic that realizes they have no savings this is according to michael owen he'll tell us all about it let's get to today's capital account. all right let's talk about the fiscal cliff because how can you avoid it the impact from going over it would be a recession in the u.s. economy next year and an increase in the jobless rate to nine point one percent by the end of two thousand and thirteen at seven point nine percent now and a deal to avert this would mean a deficit five hundred three billion dollars higher than it would otherwise
i outlined a responsible parent forward to avert the fiscal cliff without raising tax rates were serious about reducing with ups have to combine spending cuts with revenue. that sounds pretty opposed to good luck with that grand bargain guys so maybe we'll go off the cliff and what that really be so bad well you can decide mike maloney of gold silver is here to weigh in and cvo was out with a view of what a plunge would mean as far as a recession and unemployment goes and it's not about what...
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Aug 23, 2012
08/12
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MSNBC
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that fiscal cliff is over. so they can say everything they want. but i think people will know who's been obstructing. >> well, will the republicans do the right thing and act on these tax cuts and spending cuts? or are they going to hang the economy out there and blame it on the democrats? >> oh, i think that it seems to me they want to put everything off until after the election. and we actually in the senate, we were able to do something i think that was very smart with harry reid's leadership. we were able to get them to stand down from the filibuster and we passed that tax cut. everybody gets it up to $250,000. after that, clinton tax cuts kick in for those over $250,000. we passed that with a majority vote, and they're sitting on it and won't do it. >> but the cbo report paints a very tough picture in january of 2013. and this is going to be an argument that the democrats are going to have to win with the public, is it not? this squarely puts the focus back on winning the argument. how do the democrats win that argument? >> as i said, number o
that fiscal cliff is over. so they can say everything they want. but i think people will know who's been obstructing. >> well, will the republicans do the right thing and act on these tax cuts and spending cuts? or are they going to hang the economy out there and blame it on the democrats? >> oh, i think that it seems to me they want to put everything off until after the election. and we actually in the senate, we were able to do something i think that was very smart with harry...
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Nov 30, 2012
11/12
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the biggest issue that's causing the fiscal cliff is the tax rates going up on the middle class. especially in this time now when we're getting out of this recession. we're seeing some robust growth. we want the christmas sales to be good. if the middle class knew that they're going to keep their tax cut, it would put a smile on everybody's face. and both parties can take credit for it. why won't they do it? there's only one answer. they're obsessed with protecting billionaires and millionaires. it's a sad state of affairs. >> one thing that we've seen in the days leading up, at least through this week, that there has been optimism from both sides expressed by speaker boehner, also by the president, and also republican tom cole, congre congressman, seem to be on board. now we have conservatives like charles krauthammer putting out their pieces saying let's go over the fiscal cliff, let the president do this. then john cornyn, republican from texas, saying apparently the president wants us to go over the fiscal cliff. this is serious business, demanding higher taxes, more stimulus
the biggest issue that's causing the fiscal cliff is the tax rates going up on the middle class. especially in this time now when we're getting out of this recession. we're seeing some robust growth. we want the christmas sales to be good. if the middle class knew that they're going to keep their tax cut, it would put a smile on everybody's face. and both parties can take credit for it. why won't they do it? there's only one answer. they're obsessed with protecting billionaires and...
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has borrowed at record low rates since and maybe this whole fiscal cliff saga will play out in the exact same way and if another ratings agency in this case downgrades the u.s. so what won't matter and with events that actually do change the contours of the game we don't actually know what these things will even look like until they happen and until they happen we have a really hard time entertaining the notion that they ever will like this. i had a press conference today was represented steve king and louie gohmert we have a bill here for the grid no we won't we won't get downgraded of course not that's impossible until it happens and when it comes to preparing for these things the prep or is often seen as a chicken little like people who were buying generators and stocking up on food in the northeast they may have seemed a bit paranoid until this sandy's effects blasted new york city causing damage and destruction never seen before in america's largest city now when it comes to preparing for the fat tail to start wagging its what one of our next guest compares to waiting for a train th
has borrowed at record low rates since and maybe this whole fiscal cliff saga will play out in the exact same way and if another ratings agency in this case downgrades the u.s. so what won't matter and with events that actually do change the contours of the game we don't actually know what these things will even look like until they happen and until they happen we have a really hard time entertaining the notion that they ever will like this. i had a press conference today was represented steve...
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Aug 22, 2012
08/12
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FOXNEWS
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cliff, where we will see likely the bush tax rates expiring at the end of the year, the automatic budget cuts coming in, and the so-called sequestration. and the head of the c.b.o. said we could be headed if a major economic calamity. take a listen. >> if allowed to occur, the sharp reductions in taxes and, rather, reduction in spending, and that will lead to a trimming of the deficit of $500 billion, a significant tightening you have policy and lead, possibly, to a recession next year. >>reporter: a recession, not something the white house wants to hear. here is the really bad news f they got a deal and have a deficit deal in the next few months, the head of the c.b.o. said the economy would get stronger and there would not be a recession but the fiscal crisis would still be looming because the deficit would keep going up. so, under either scenario there are real problems. >>shepard: we learned vice president biden could be in tampa when the republicans are in tampa for the convention and now it is looking like he is getting under their skin. >>reporter: he is campaigning in detroit, sp
cliff, where we will see likely the bush tax rates expiring at the end of the year, the automatic budget cuts coming in, and the so-called sequestration. and the head of the c.b.o. said we could be headed if a major economic calamity. take a listen. >> if allowed to occur, the sharp reductions in taxes and, rather, reduction in spending, and that will lead to a trimming of the deficit of $500 billion, a significant tightening you have policy and lead, possibly, to a recession next year....
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and you know, there are some taxes that would go up if we two off the fiscal cliff. you're talking about a family that makes about $50,000 having a tax increase of $4,000. melissa: congresswoman, this drives me crazy. when we look at all the numbers we immediately start taing about taxes. it seems like we're looking for revenue under every single rock. that's fine. even if we raised taxes that are proposed by the white house, it will raise $82 billion. it is one half of 1% of the problem. have a $16.3 trillion debt. all of this talk about raising taxes doesn't get us even close to solving the problem. it doesn't even start the conversation. it is not a drop in the bucket. we've got to reform our spending or grow the economy. but just raising taxes isn't going to do it. >> well, i agree with you 100%. that's why the president as well as the democrats have called for a balanced approach. so of course we can't raise enough taxes to completely deal witthe deficit. and you do have to do reforms. you need to reform the tax system. you certainly need to make additional cuts
and you know, there are some taxes that would go up if we two off the fiscal cliff. you're talking about a family that makes about $50,000 having a tax increase of $4,000. melissa: congresswoman, this drives me crazy. when we look at all the numbers we immediately start taing about taxes. it seems like we're looking for revenue under every single rock. that's fine. even if we raised taxes that are proposed by the white house, it will raise $82 billion. it is one half of 1% of the problem. have...
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Dec 5, 2012
12/12
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CNBC
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but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if they can get past tax rates and spending cuts, then they will be able to deal with the peripheral issues. but we don't have much time. if a deal isn't reached or a framework isn't reached in the next week or, so it's going to be a big problem. >> all right, thanks for that. good to see you. > >>> nokia -- we'll tell you more when we come back in a few moments. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sal
but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if...
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Nov 18, 2012
11/12
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CSPAN
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, we are going over a fiscal cliff? >> i do not see a realistic way to solve this without recognition. it is very encouraging that leadership has recognized that we will need to generate a modest revenues. we're just at the beginning. we will see how it goes. i agree that this is going to be tough. we know the lack of clarity and resolution will be a burden. but i think it is something that we have to go through. if we're going to find a better way to improve the long-term growth prospects of the country, we have to think about a way to resolve the current divide on these basic questions, and that is worth trying to do. >> as you and the president have said, we have to raise taxes and restrain spending. the president's proposals on medicare so far have been large a limited to the supply side. is the president going to lead with a proposal to do something different on medicare to get the republicans back off of their position on the top rates? >> the president has put in his budget, and not enough attention has been give
, we are going over a fiscal cliff? >> i do not see a realistic way to solve this without recognition. it is very encouraging that leadership has recognized that we will need to generate a modest revenues. we're just at the beginning. we will see how it goes. i agree that this is going to be tough. we know the lack of clarity and resolution will be a burden. but i think it is something that we have to go through. if we're going to find a better way to improve the long-term growth...
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i outlined a responsible parent forward to avert the fiscal cliff without raising tax rates were serious about reducing with up to. half to combine spending cuts with revenue . that sounds pretty opposed to good luck with that grand bargain guys so maybe we'll go off the cliff and what that really be so bad well you can decide mike maloney of gold silver is here to weigh in and c.b.l. was out with a view of what a plunge would mean as far as a recession and unemployment goes and it's not about what the demographic that wakes up and says this is going through. there's a tightening. of the woolly nike's demographic that realizes they have no savings this is according to mike maloney he'll tell us all about it let's get to today's capital account.
i outlined a responsible parent forward to avert the fiscal cliff without raising tax rates were serious about reducing with up to. half to combine spending cuts with revenue . that sounds pretty opposed to good luck with that grand bargain guys so maybe we'll go off the cliff and what that really be so bad well you can decide mike maloney of gold silver is here to weigh in and c.b.l. was out with a view of what a plunge would mean as far as a recession and unemployment goes and it's not about...
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has borrowed at record low rates since and maybe this whole fiscal cliff saga will play out in the exact same way and if another ratings agency in this case which downgrades the u.s. so what won't matter and with events that actually do change the contours of the game we don't actually know what these things will even look like until they happen and until they happen we have a really hard time entertaining the notion that they ever will like this i had a press conference today was represented steve king and louie gohmert we have a. grid no we won't we won't get downgraded of course not that's impossible.
has borrowed at record low rates since and maybe this whole fiscal cliff saga will play out in the exact same way and if another ratings agency in this case which downgrades the u.s. so what won't matter and with events that actually do change the contours of the game we don't actually know what these things will even look like until they happen and until they happen we have a really hard time entertaining the notion that they ever will like this i had a press conference today was represented...
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Oct 22, 2012
10/12
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FOXNEWS
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also that fiscal cliff is looming. how will it impact jobs? lori russman from fox business network has more on these topics for us. >> the unemployment rate did drop especially in some of the key swing states. political analyst pointed out the president is not using these numbers and he also says it's probably smart he is not if he draws attention to unemployment it will show that it is really high. >> nothing to brag about it is where it is when he took office but this is a devastating high national average for unemployment. 7.8 percent. to your count about the key swing states they saw improvement from those unemployment numbers. it is still devastatingly high. one who had improve is ohio dropping from 7.wi8 to 7 percen. compared to history where full employment is 4 and a half, 5 percent we are way off that mark. we are creating far too few jobs to approach that full employment picture any time soon. >> the fiscal cliff is looming. briefly explain what is going to happen unless congress acts? >> come the new year it amounts to a battery of
also that fiscal cliff is looming. how will it impact jobs? lori russman from fox business network has more on these topics for us. >> the unemployment rate did drop especially in some of the key swing states. political analyst pointed out the president is not using these numbers and he also says it's probably smart he is not if he draws attention to unemployment it will show that it is really high. >> nothing to brag about it is where it is when he took office but this is a...
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Dec 3, 2012
12/12
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CSPAN
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if we go off the fiscal cliff and congress doesn't take any action to soften the blow, tax rates will go up quite a lot on dividends, from 15% to more than 40% in most circumstances. there are economists who think that will have a big impact on stock markets and they could go down 10%, maybe 20%. i do not think those effects are as strong as some economists believe. i think it is something the market could get over. you're in a long term tax and vanished savings situation. i think you are basically going to be fine unless you're planning on retiring release soon. i do think that is something you have to keep in mind. diversification out of the assets that are most affected by these kinds of taxes is probably never a bad idea. host: john mckinnon is a reporter for "the wall street journal." he is now in the washington bureau. he was a columnist for "the miami herald." what sectors would be hit harder if deductions and loopholes or taken out of the tax code? guest: the stocks that pay a high dividend. these tend to be utility stocks. there are lots of old, established, u.s. industrial f
if we go off the fiscal cliff and congress doesn't take any action to soften the blow, tax rates will go up quite a lot on dividends, from 15% to more than 40% in most circumstances. there are economists who think that will have a big impact on stock markets and they could go down 10%, maybe 20%. i do not think those effects are as strong as some economists believe. i think it is something the market could get over. you're in a long term tax and vanished savings situation. i think you are...
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Oct 18, 2012
10/12
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there are more concerns tonight about the fiscal cliff at the end of the year along with the tax hikes that go into effect in january. told jm morgan economist said cliff-related fiscal issues could take a full percentage point away from economic growth next year. >>> now our fourth story "outfront." we have breaking political news. we're reporting that mitt romney's staff is starting to pull out of the state of north carolina. you say why? because they're failing? apparently the campaign is so confident of a win there, they're shifting resources to battleground ohio instead. the latest polls appear to back them up on that, showing romney in the lead before the first game-changing debate. the numbers got better since then. here's the current cnn electoral map. this assumes that nine states are toss-ups, one is the state of north carolina. if mitt romney wins there, he's 15 electoral votes closer to election. if you add in florida, colorado and virginia, he's still not at 270, which is the number required to win. now, if he can pick up ohio in addition to those, he'll be the next presid
there are more concerns tonight about the fiscal cliff at the end of the year along with the tax hikes that go into effect in january. told jm morgan economist said cliff-related fiscal issues could take a full percentage point away from economic growth next year. >>> now our fourth story "outfront." we have breaking political news. we're reporting that mitt romney's staff is starting to pull out of the state of north carolina. you say why? because they're failing? apparently...
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the whole fiscal cliff is forcing them to do something. but you nailed it on the specifics. it is tax rates. the president has said that tax rates will go up for the wealthy. republicans won't bend on that. yesterday, john boehner said, we are at a stalemate. yes, this is posturing. yes, this is washington. we have four weeks to go. we're going to have ups and downs. >> ups and downs in the stock market, as well. david, thanks. have a great weekend. >> reporter: you, too. >>> now, to the star college basketball players accused of abusing their position as big men on campus. they're now facing burglary charges for allegedly stealing thousands of dollars of stuff from their fellow students. and abc's john muller is covering the story. john? >> reporter: good morning, dan. hofstra students say iphones, computers and even cash has been disappearing from their dormrooms all semester. one victim used an app to track down her stolen ipad. when the investigation unfolded, the staggering news. now, four players from the division-i basketball team are under arrest. faces, covered in s
the whole fiscal cliff is forcing them to do something. but you nailed it on the specifics. it is tax rates. the president has said that tax rates will go up for the wealthy. republicans won't bend on that. yesterday, john boehner said, we are at a stalemate. yes, this is posturing. yes, this is washington. we have four weeks to go. we're going to have ups and downs. >> ups and downs in the stock market, as well. david, thanks. have a great weekend. >> reporter: you, too....
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Dec 30, 2012
12/12
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. >> a fiscal cliff compromise likely won't happen without those special interests in having their say and their sway with these negotiations. i mean, how much do these lobbying groups really wind up turning the negotiations in a certain way to really make things sort of end up where we just started? >> again, capital gains and wall street is heavily involved in trying to keep these rates as low as possible. the lower capital gains rate is a good example. i think the lobbying pressure is significant, also just the polarization, the political polarization we've seen in our country. >> want to watch the whole interview? you can see it online at cnn.com. >>> and americans fearful of higher taxes as part of the january 1st fiscal cliff deadline may see another hit to their wallets, thanks to what is being called the dairy cliff. milk prices could double to a whopping $8 a gallon. if congress doesn't pass an extension to the u.s. farm bill and everything from your favorite treats at the grocery store to the nation's dairy farmers can be affected. our affiliate in nashville spoke to one farm
. >> a fiscal cliff compromise likely won't happen without those special interests in having their say and their sway with these negotiations. i mean, how much do these lobbying groups really wind up turning the negotiations in a certain way to really make things sort of end up where we just started? >> again, capital gains and wall street is heavily involved in trying to keep these rates as low as possible. the lower capital gains rate is a good example. i think the lobbying...
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Nov 30, 2012
11/12
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KGO
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cliff. but on capitol hill, talks there have pretty much hit an impasse at this point. neither republicans nor democrats seem willing to budge on the issue of tax rates for the wealthy. unless the two sides can reach some kind of deal, spending cuts and also tax hikes will collectively take effect starting january 1st. the clock is ticking. >> it is. >>> the united nations has overwhelmingly approved recognition of a palestinian state, a move staunchly opposed by the u.s. and israel. >> but in the west bank and gaza, palestinians, they celebrated on the streets. the historic vote upgrades palestine to nonmember nonvoting observer status only. meanwhile, u.s. ambassador, susan rice, she denounced the resolution. saying, quote, it's counterproductive to the goal of mideast peace. >> and the palestinian people will wake up tomorrow and find that little about their lives has changed, save that the prospects of a durable peace have only receded. >> rice added that the u.s. will continue to stand
cliff. but on capitol hill, talks there have pretty much hit an impasse at this point. neither republicans nor democrats seem willing to budge on the issue of tax rates for the wealthy. unless the two sides can reach some kind of deal, spending cuts and also tax hikes will collectively take effect starting january 1st. the clock is ticking. >> it is. >>> the united nations has overwhelmingly approved recognition of a palestinian state, a move staunchly opposed by the u.s. and...
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Dec 31, 2012
12/12
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the tax rates went up went over the fiscal cliff wall of the ta rates went up on every single american, we would still have a deficit twice as large as the largest bush deficit. we are spending a trillion more a year than we were five years ago. we have to resolve dhou we continue to spend this money. we can wrap around how we get this spending down no amount of taxation is going to solve the problem. >> why is it there's a reluctance to identify where the spending cuts should go? no one wants to talk about the sacred entitlements but at some point we have to. if we are spending a trillion dollars a year and if the revenues are offset by the spending recommended by the president our grandchildren will be held hostage. >> get everybody back to work. we did not pay for the cost of the war. president bush should have done that. both were declared during his administration. that cost is enormous. huge pay out to health insurance unemployment compensation and so forth because the wholly con me went to pot. of course spending would go up. having responsible legislation is so important. it st
the tax rates went up went over the fiscal cliff wall of the ta rates went up on every single american, we would still have a deficit twice as large as the largest bush deficit. we are spending a trillion more a year than we were five years ago. we have to resolve dhou we continue to spend this money. we can wrap around how we get this spending down no amount of taxation is going to solve the problem. >> why is it there's a reluctance to identify where the spending cuts should go? no one...
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Aug 22, 2012
08/12
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FOXNEWSW
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cliff could be avoided. if house republicans join democrats in extending the current tax rate for middle class saying they are willing to hold the middle class hostage until we give tax cut to millionaires and billionaires. tax cuts we can't afford. republican mitt romney wants all the bush tax rate extented and charge, "today's cbo report is another indictment of president obama economic policies that resulted in overspending, increasing debt and growing financial burden on the next generation. just one day after vice president biden declared the middle class is coming back. >> they have been ravaged, they have been ravaged. but they're starting to come back. we helped them keep their homes a their healthcare. >> reporter: talk of a comeback may be dampened by the federal reserve. newly released minutes from the recent minute show many fed officials think action will be needed fairly soon until incoming information points to a substantial and sustainable strengthening in the pace of the economic recovery. t
cliff could be avoided. if house republicans join democrats in extending the current tax rate for middle class saying they are willing to hold the middle class hostage until we give tax cut to millionaires and billionaires. tax cuts we can't afford. republican mitt romney wants all the bush tax rate extented and charge, "today's cbo report is another indictment of president obama economic policies that resulted in overspending, increasing debt and growing financial burden on the next...
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Nov 30, 2012
11/12
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CNNW
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insult and finger pointing in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats are firing right back at boehner. harry reid getting a little personal. >> i don't understand his brain, so you should ask him. okay? >> ouch. athena jones live from washington. same old same old. where do we go from here? >> that's the big question. the nice talk after the election is pretty much gone away. you mentioned one of the big sticking points, that's taxes. republicans and democrats can't agree on how to raise the tax revenue? end the bush tax cuts for the wealthy, close the loopholes, raise the capital gains taxes or all of the above. right now, they can't agree on how much money should be
insult and finger pointing in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats...
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Dec 28, 2012
12/12
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WUSA
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cliff. >> reporter: but leader reid had this warning about the shape of a deal to come. >> everybody, whatever we come up with is going to be imperfect and some people aren't going to like it. some people will like it less, but that's where we are. >> reporter: up until now, reid and mcconnell have kind of been sitting on the sidelines as the president and speaker boehner tried but failed to come up with a deal. and it's kind of fitting that they're swooping in now at the last minute. that's exactly what they did during the debt crisis last summer, and the legislation they came up with, jeff, contributed to the fiscal cliff that we're facing right now. >> glor: the president says this just keeps happening again and again. nancy cordes, thank you. income taxes won't be the only taxes going up, if there's no agreement. estate taxes paid by those who inherit property will also jump. here's john blackstone. >> reporter: jeff page owns 120-acre vineyard in california's napa vail vale but when his
cliff. >> reporter: but leader reid had this warning about the shape of a deal to come. >> everybody, whatever we come up with is going to be imperfect and some people aren't going to like it. some people will like it less, but that's where we are. >> reporter: up until now, reid and mcconnell have kind of been sitting on the sidelines as the president and speaker boehner tried but failed to come up with a deal. and it's kind of fitting that they're swooping in now at the last...
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we are distracted by the fiscal cliff. let there be a economic growth. interest rates would go up. interest rates will stay reasonably low. we should be glad that we have this economy. either we really go down the cliff or let some growth kick in and indeeddwhat happens, interest rates will go up. ultimately, inflation is the road we will be heading on. dagen: is there anything you can look at today that shows interest rates will go up? >> what we know now is that the federal reserve no longer focuses on inflation, but on employment. that is why the unemployment rate will be ever more important today. next year, the federal reserve will be even more starvation -- we are going to push growth at any cost: the cost being inflation. at some point, the market will take point. we are going to have a lot of turmoil. we do not have a european crisis. we are certainly a candidate. higher rates will be in it. dagen: higher by how much quick select you have 1.6% on the ten year period >> in recent years, everyone has felt warm and fuzzy. let volatility go back to normal time. you do not need
we are distracted by the fiscal cliff. let there be a economic growth. interest rates would go up. interest rates will stay reasonably low. we should be glad that we have this economy. either we really go down the cliff or let some growth kick in and indeeddwhat happens, interest rates will go up. ultimately, inflation is the road we will be heading on. dagen: is there anything you can look at today that shows interest rates will go up? >> what we know now is that the federal reserve no...
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Nov 14, 2012
11/12
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CNBC
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the fiscal cliff may be solved and interest rates, as you say, may indeed go up. >> true. munis are a whole different story. they'll suffer but not as much because of the tax-free nature. if you buy them by themselves, they'll mature. bond funds have no maturity and therein lies the problem. >> thank you, mr. clark. to summarize, go short duration if you're in a fund and try to hedge it with an etf. carl, back to you. >> good advice. european close coming up after a break. don't go away. future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ >>> the european markets are closing now. >> not only a sea of red, simon, but a lot of data out of europe that wasn't encouraging either. >> that's true. for many in financial markets, also the turmoil you see on the st
the fiscal cliff may be solved and interest rates, as you say, may indeed go up. >> true. munis are a whole different story. they'll suffer but not as much because of the tax-free nature. if you buy them by themselves, they'll mature. bond funds have no maturity and therein lies the problem. >> thank you, mr. clark. to summarize, go short duration if you're in a fund and try to hedge it with an etf. carl, back to you. >> good advice. european close coming up after a break....
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Dec 17, 2012
12/12
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if he refuses to raise tax rates and the president demands higher tax rates, then we go over the fiscal cliff, we go into recession and the republicans get the blame. i think that's your argument, scott, right? what do you make of that, john? >> well, i mean, i think that certainly a risk, but i'm not sure that obama gets out scot-free on this if we go over the cliff. i mean there's a lot to lose for everybody. and the point is is that you either believe in the economic approach that we talked about as a party in 2012, or you don't. and if you go ahead with obama's plan, essentially you're conceding that, you know what? we don't really believe this makes sense. we think the government should be spending more money. stuart: do you think the president will bend in return or do you think he actually wants to go over the cliff? >> i think he eventually will bend, but it is really hard to tell when obama's dictating and boehner is caving. stuart: let's leave it at that because i think you have expressed it precisely. i think you have it right. john, thank you very much for joining us. we app
if he refuses to raise tax rates and the president demands higher tax rates, then we go over the fiscal cliff, we go into recession and the republicans get the blame. i think that's your argument, scott, right? what do you make of that, john? >> well, i mean, i think that certainly a risk, but i'm not sure that obama gets out scot-free on this if we go over the cliff. i mean there's a lot to lose for everybody. and the point is is that you either believe in the economic approach that we...
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has borrowed at record low rates since and maybe this whole fiscal cliff saga will .
has borrowed at record low rates since and maybe this whole fiscal cliff saga will .
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goes over that fiscal cliff, people in california will pay a ton in extra taxes. california would have the highest earners there would pay almost 52% as their marginal income tax rate. the highest in the country. the only state that would have a calculated rate would be hawaii. three percentage points to the marginal state income tax rate. we will have entrepreneur ethan anderson coming up, maybe tomorrow, to talk about what that does for business. connell: the tax man is for amazon. the irs calling for back taxes after accusing the company of avoiding billions of dollars of taxes in the united states and europe. the accusations, after amazon bought a home in luxembourg and channeled their sales through it in order to create a tax shelter for the american and european governments. the stock by $0.24. dagen: make sure to wash your hands before you check out. according to a new survey, 16% of online holiday shopping is conducted on the pot. from the toilet. in the john. more than 38 million adults admit to shopping with their pants around their ankles. the study did
goes over that fiscal cliff, people in california will pay a ton in extra taxes. california would have the highest earners there would pay almost 52% as their marginal income tax rate. the highest in the country. the only state that would have a calculated rate would be hawaii. three percentage points to the marginal state income tax rate. we will have entrepreneur ethan anderson coming up, maybe tomorrow, to talk about what that does for business. connell: the tax man is for amazon. the irs...
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Nov 30, 2012
11/12
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called the fiscal split or the fiscal cliff because president obama's plan to avoid the fiscal cliff is not exactly flying with republicans. 32 days now count with me 32 tax rates soar, spending cuts automatically kick in and keep in mind there is a date that we're watching also before this, congress break for the holidays in all of 14 days. >> so to review the president's plan calls for $1.6 trillion in tax hikes, $50 billion in new stimulus spending, and $400 billion in unspecified cuts. the president for himself he's heading to a manufacturing plant in pennsylvania today to try to sell that idea. house speaker john boehner's reaction was essentially, get serious. so we want to talk about the numbers behind this. we're going to bring in ken rogoff, professor of economics and public policy at harvard university. you heard the specifics of the plan, $1.6 trillion in new taxes, $400 billion in unspecified cuts, $50 billion in new stimulus. how does this sound to you? >> well, it certainly sounds like a plan. and i do think we have to see some mix of higher revenues starting now and fr
called the fiscal split or the fiscal cliff because president obama's plan to avoid the fiscal cliff is not exactly flying with republicans. 32 days now count with me 32 tax rates soar, spending cuts automatically kick in and keep in mind there is a date that we're watching also before this, congress break for the holidays in all of 14 days. >> so to review the president's plan calls for $1.6 trillion in tax hikes, $50 billion in new stimulus spending, and $400 billion in unspecified...
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Dec 29, 2012
12/12
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economists have continually warned that going over the fiscal cliff will lead to a devastating job losses at a time when american families and small business owners are still struggling to get back on their feet. non-partisan cbo says extending tax rates would create more than 1.8 billion jobs and increase gdp by almost 1.5% next year. these tax cuts were good for the economy and good for families. the actions to make the first tax bracket 10% instead of 15% made a big difference to a lot of american families. going over the fiscal cliff is avoidable. there is still time to act. but president obama and 10 eric -- and harry reid believe it is one that can pass both houses. republicans agree. republicans have taken the step in the right direction. they pass legislation to replace this with responsible target it once and to bring our nation record debt under control. instead of considering the house plan to protect taxpayers democrats have spent months drawn partisan lines in the stands. the tax hike would only funds the government for eight days. americans deserve to know what the president
economists have continually warned that going over the fiscal cliff will lead to a devastating job losses at a time when american families and small business owners are still struggling to get back on their feet. non-partisan cbo says extending tax rates would create more than 1.8 billion jobs and increase gdp by almost 1.5% next year. these tax cuts were good for the economy and good for families. the actions to make the first tax bracket 10% instead of 15% made a big difference to a lot of...
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Nov 29, 2012
11/12
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. >> based on the procespect of going over the fiscal cliff which you just called serious business or extending the lower tax rates and not the upper ones, which one would you choose? >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse, though, for the economy? >> -- the balance that you talked about, could you include the debt limit increase in the overall package? >> as i told the president a couple weeks ago, there are a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. and if we're going to talk about the debt limit in this, then there's going to be shall price tag associated with it. >> last question. >> are you standing by your dollar for dollar for cuts? >> i tip to believe any increase in the debt limit has to be accompanied by spending reductions that meet or exceed it. >> thank you. >>> all right. listening to speaker john boehner there after his meeting with tim geithner. coming out -- didn't hear it right off the top,
. >> based on the procespect of going over the fiscal cliff which you just called serious business or extending the lower tax rates and not the upper ones, which one would you choose? >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse, though, for the economy? >> -- the balance that you talked about, could you include the debt limit increase in the overall...